Mike Lepley's Reviews > All the Devils are Here: The Hidden History of the Financial Crisis

All the Devils are Here by Bethany McLean
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's review
Dec 27, 10

really liked it
bookshelves: history-politics
Read in December, 2010

Excellent overview of the financial crisis. It starts early enough and give you financial background for derivatives trading, general definitions of CDO's and other typically hard to understand financial instruments. It connects some of the dots for those of us that do not work on Wall Street. It explains how/why institutions fell from using standard underwriting to the credit rating system. The first several chapters are a bit hard going but necessary for definitions and the author's had to start somewhere. While it is written to be easily understood by laymen it is very detailed.

If you like "The Smartest Men in the Room" by the same author this is probably a good book for you. If you want to know more about derivatives, financial instruments, and the workings of Wall Street this is a good book to get you started.
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